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Pastimes : A Jackass, his PAL(indrome), and GOLD

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To: Jim Willie CB who wrote (1129)4/9/2003 2:56:35 PM
From: Wyätt Gwyön  Read Replies (1) of 1210
 
IMF bitchslaps US banana republic

online.wsj.com
At a news conference Wednesday, IMF research director Kenneth Rogoff said, "Suppose for a moment we were talking about a developing country that had a gaping deficit year after year as far as the eye can see, a budget spinning from black into red, open-ended security costs and an exchange rate that has been inflated by capital inflows. With all that I think it's fair to say we'd be pretty concerned." The U.S. isn't a developing country, he said, but nonetheless, for the global economy "the tax cut … on top of ongoing security expenditures seems awkwardly timed."
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